3M (NYSE:MMM) Price Target Increased to $146.00 by Analysts at Mizuho

3M (NYSE:MMM) had its price target hoisted by Mizuho from $105.00 to $146.00 in a research note published on Thursday, Benzinga reports. They currently have a neutral rating on the conglomerate’s stock.

MMM has been the subject of a number of other research reports. Bank of America boosted their price target on 3M from $120.00 to $143.00 and gave the company a “buy” rating in a report on Monday, July 29th. Morgan Stanley began coverage on 3M in a research report on Friday, September 6th. They set an “underweight” rating and a $125.00 price target on the stock. Royal Bank of Canada lifted their price objective on 3M from $93.00 to $95.00 and gave the company an “underperform” rating in a report on Monday, July 29th. Wells Fargo & Company increased their target price on shares of 3M from $130.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. Finally, Barclays raised their target price on shares of 3M from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $130.57.

3M Stock Performance

MMM stock opened at $135.14 on Thursday. The firm has a market cap of $74.78 billion, a price-to-earnings ratio of -10.62, a PEG ratio of 2.49 and a beta of 0.95. 3M has a twelve month low of $71.12 and a twelve month high of $140.72. The company has a quick ratio of 1.08, a current ratio of 1.36 and a debt-to-equity ratio of 2.95. The business’s fifty day simple moving average is $132.67 and its two-hundred day simple moving average is $112.87.

3M (NYSE:MMM) last announced its quarterly earnings data on Friday, July 26th. The conglomerate reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.68 by $0.25. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.85 billion. 3M had a net margin of 3.08% and a return on equity of 112.92%. During the same quarter last year, the business posted $2.17 EPS. Analysts predict that 3M will post 7.24 earnings per share for the current year.

3M Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Shareholders of record on Monday, August 26th were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.07%. The ex-dividend date was Monday, August 26th. 3M’s dividend payout ratio is currently -22.01%.

Insider Activity

In related news, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $124.12, for a total transaction of $260,652.00. Following the transaction, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 3M news, Chairman Michael F. Roman sold 5,675 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $123.46, for a total value of $700,635.50. Following the completion of the transaction, the chairman now owns 174,036 shares of the company’s stock, valued at approximately $21,486,484.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Theresa E. Reinseth sold 2,100 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $124.12, for a total transaction of $260,652.00. Following the sale, the chief financial officer now directly owns 4,364 shares in the company, valued at $541,659.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Institutional Trading of 3M

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tributary Capital Management LLC purchased a new position in shares of 3M in the first quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. raised its position in 3M by 419.1% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 244 shares of the conglomerate’s stock worth $26,000 after buying an additional 197 shares during the last quarter. MFA Wealth Advisors LLC purchased a new position in 3M during the 2nd quarter worth approximately $28,000. Daymark Wealth Partners LLC lifted its stake in 3M by 8.6% during the 3rd quarter. Daymark Wealth Partners LLC now owns 217,745 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 17,211 shares during the period. Finally, McClarren Financial Advisors Inc. boosted its holdings in shares of 3M by 118.6% in the 3rd quarter. McClarren Financial Advisors Inc. now owns 223 shares of the conglomerate’s stock valued at $30,000 after acquiring an additional 121 shares during the last quarter. Institutional investors and hedge funds own 65.25% of the company’s stock.

About 3M

3M Company provides diversified technology services in the United States and internationally. The company’s Safety and Industrial segment offers industrial abrasives and finishing for metalworking applications; autobody repair solutions; closure systems for personal hygiene products, masking, and packaging materials; electrical products and materials for construction and maintenance, power distribution, and electrical original equipment manufacturers; structural adhesives and tapes; respiratory, hearing, eye, and fall protection solutions; and natural and color-coated mineral granules for shingles.